Average US 30-year mortgage rate slips to 4.02 percent

This chart shows the movement of mortgaged rates over the past year. (NYSE:BBT) are listed at 4% yielding an April of 4.083%.

The rate on 15-year mortgages eased to 3.27 percent from 3.29 percent last week. "The year-over-year increase was driven by conventional loans, which tend to be larger, leading to a record high for the average purchase loan size". The fee on 15-year loans also held steady at 0.5 point.

According to the MBA, last week's average mortgage loan rate for a conforming 30-year fixed-rate mortgage was unchanged for a second straight week at 4.23%.

Adjustable rate mortgage loans accounted for 8.1% of all applications, down 0.1 percentage points compared with the prior week. The best 30 year jumbo FRMs are published at 3.625% yielding an April of 3.429%.

Standard 30 year loans have been published at 4.000% at carrying an April of 4.072%. This is a decrease from last week's 3.14% but remains higher than 2.8% past year. As far as ARMs go, 5 year loans at Harris Bank stand at 2.750% and April of 3.703%.

The best 30 year loan interest rates at Chase Bank (NYSE:JPM) are available starting at 3.750% and April of 3.915% today. The best 20 year FRM interest rates stand at 3.750% today and an April of 3.848%.

30 year refinance loan interest rates at Chase are listed at 3.750% today yielding an April of 3.853%. The 5/1 Adjustable Rate Mortgages are 3.125% at with an April of 3.677%.

The 5/1 ARM deals at Chase have been published at 3.250% with an April of 3.605%. Mortgage rates are closely related to yields on long-term government bonds, which have been in high demand amid the turmoil in Washington. The 7/1 ARM interest rates are being quoted at 3.375% today with an April of 3.463%.

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